Plaintiffs v Oversee.Net, Inc. subsidiary SnapNames.Com, Inc.
Class Action Lawsuit Filed Against Domain Name Provider
A class action lawsuit was filed in Miami-Dade County Circuit Court on behalf of lead Plaintiff Carlos A. Cueto and others who participated in online auctions for domain names. In the lawsuit, Mr. Cueto alleges that an executive of the company conducting the auctions acted as a shill bidder to manipulate bids. The domain names were auctioned online by Oversee.Net, Inc. subsidiary SnapNames.Com, Inc.
According to the class action complaint, a former vice-president of SnapNames.Com secretly bid on tens of thousands of domain name auctions over the past four years, driving up costs for other bidders. It is alleged that the company executive set up an account on the Defendants' system under a false name and, under the name, bid in online domain auctions run by SnapNames.Com, Inc. and Oversee.Net. As a result of the internal employee bidding, the suit alleges the prices to purchase a domain name were falsely inflated, leading to higher costs to buyers and greater profit for the defendants.
The class action lawsuit, brought by the Cueto Law Group law firm, is the first to allege that a domain name provider used a shill bidder to manipulate auctions.
For more information contact:
Santiago A. Cueto, Esq.
Cueto Law Group, P.L.
Tel. 305-777-0377
Email: sc@CuetoLawGroup.com
www.CuetoLawGroup.com
